Slide 1: 2017 Nine Months Results
2017 NINE MONTHS RESULTS November 10, 2017
Slide 2: Safe Harbor Statement
Safe Harbor Statement This Presentation contains certain forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes," "expects," "predicts," "intends," "projects," "pl
Slide 3: 9M 2017 Key Messages
9M 2017 Key Messages • 9M 2017 results in line with Business Plan 2016-2020 targets: revenues up 10.7% vs 9M 2016 and EBITDA margin at 6.5% vs 5.7% 9M 2016 • Total backlog(1) at € 25.3 bln covering ~6 years of work if compared to 2016 revenues: − Backlog at € 20.3 bln (97 ships) up from € 19.0 bln i
Slide 4: 9M 2017 main orders
9M 2017 main orders Orders acquired in Q3 Vessel Client Delivery 4 cruise ships Norwegian Cruise Line 2022-2025 TBU 1 cruise ship Holland America Line 2021 (Carnival Corporation) Shipbuilding 1 cruise ship Princess Cruises 2022 (sixth “Royal Princess” class vessel) (Carnival Corporation) 1 cruise sh
Slide 5: 9M 2017 main deliveries (1/2)
9M 2017 main deliveries (1/2) Deliveries in Q3 Vessel Client Delivery Cruise ship “Viking Sky” Viking Ocean Cruises Ancona Cruise ship “Majestic Princess” Princess Cruises Monfalcone (Carnival Corporation) Cruise ship “Silver Muse” Silversea Cruises Sestri Ponente FREMM “Rizzo” Italian Navy Muggiano
Slide 6: 9M 2017 main deliveries (2/2)
9M 2017 main deliveries (2/2) Deliveries in Q3 Vessel Client Delivery OSCV “Skandi Buzios” Techdof Vard Søviknes OSCV “Far Superior” Farstad Vard Vung Tau OSCV “Skandi Vinland” DOF Vard Langsten Offshore 2 Module Carrier Vessels Topaz Energy and Marine Vard Vung Tau 2 Module Carrier Vessels Kazmortr
Slide 7: Order intake and backlog – by segment
Order intake and backlog – by segment Order intake Total backlog(1) € mln € mln 2.0x 1.5x 5.2x 5.4x 5.7x 6.308 538 5.485 1.084 5.000 465 5.800 486 2.800 1.227 1.151 1.300 1.501 1.155 1.361 Backlog 5.133 Backlog 20,299 4.848 18,231 18.572 17.022 Backlog 18,977 16.372 (447) (314) (697) (657) (800) (3)
Slide 8: Backlog deployment – by segment and end market
Backlog deployment – by segment and end market Shipbuilding Offshore Comments # ship deliveries(1) # ship deliveries • 16 units delivered in 9M 2017, 14 units Cruise Naval(2) acquired in the period, 97 ships in backlog at September 30, 2017 2017 4 1 5 2017 5 4 9 2017 7 7 14 • Cruise: 23 vessels − De
Slide 9: Revenues and EBITDA – by segment
Revenues and EBITDA(1) – by segment Revenues breakdown by segment(2) EBITDA and EBITDA margin € mln € mln 5.7% 6.5% 3.575 3.230 9.6% 367 233 10.5% 360 40 17.5% 666 11.0% 185 21.2% 723 4.9% 33 13.5% 49 5.1% 37 72.9% 2.779 68.3% 2.333 6.6% 184 5.2% 121 (186) (237) (22) (24) (3) (3) 9M 2016 9M 2017 9M
Slide 10: Shipbuilding
Shipbuilding Revenues Comments € mln • Revenues: € 2,779 mln, up 19% vs 9M 2016 9 − Growth of volumes in cruise reaching 51% of total 8 812 Other Shipbuilding Group revenues 839 • EBITDA: € 184 mln, margin at 6.6% 2,779 Naval − Further improvement due to the construction of cruise 2,333 1.958 1.486
Slide 11: Offshore
Offshore Revenues Comments € mln • Revenues: € 666 mln, down 8% vs 9M 2016 − Reduction of workload at Norwegian and Brasilian yards − Positive effect of NOK/EUR exchange rate (€ 10 723 666 mln) • EBITDA: € 33 mln, with margin at 4.9% − Margins still do not yet fully benefit from the 9M 2016 9M 2017
Slide 12: Equipment, Systems and Services
Equipment, Systems and Services Revenues Comments € mln • Revenues: € 367 mln, up 1.9% vs 9M 2016 − Despite the smaller contribution of ship conversion activities which benefited from the MSC 367 Renaissance program in 9M 2016 360 • EBITDA: € 40 mln with margin at 11.0% (1) − Decrease due to the cha
Slide 13: Net working capital and net debt
Net working capital and net debt(1) Breakdown by main components Comments € mln FY 2016 9M 2017 • Net working capital and net debt dynamics related to the production Inventories and advances to volumes in cruise and the cash-in of suppliers the final installments for the cruise Work in progress net
Slide 14: Outlook
Outlook Shipbuilding • Further increase of revenues in the last quarter of 2017 ‒ Delivery of a prototype for MSC, the largest ship ever built in Italy ‒ Italian Navy’s fleet renewal program fully operational ‒ Full swing of design activities related to the Qatari order Offshore • Crisis persisting
Slide 15: Investor Relations contacts
Investor Relations contacts Investor Relations Team Cristiano Pasanisi – VP Group Treasury, Corporate Finance & Investor Relations +39 040 319 2375 Cristiano.pasanisi@fincantieri.it Matteo David Masi – Head of Investor Relations +39 040 319 2334 MatteoDavid.masi@fincantieri.it Alberta Michelazzi +39
Slide 16: Q&A
Q&A FINCANTIERI The sea ahead